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20121120
20121120
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temperatures continue to rise. violence is ratching up in the middle east. john brady of rj o'brien joins us now for a look at the trading day from cme group. good to have you on the show this morning. > > thank you much. > > oil prices were higher yesterday by almost 3% during the session at one point. is the middle east the main driver behind the move? > > i don't think so actually. i think the the strength in crude was mirrored by strength in other commodities as well, and specifically risk assets had a super day on monday with the idea that over the course of the weekend, treasury secretary geithner, president obama and other high-ranking administration and congressional officials seemed to hint to the media that a fiscal cliff deal would happen before the middle of or end of december, and thus risk assets took that as meaning that, really in the background, fiscal cliff negotiations are speeding up and are intensifying, and that we will have a solution. so monday's trade was really about a fiscal cliff solution. the dollar was lower, commodity prices were higher, and equities of course
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